Aura Energy Says Sweden Project's Contribution Could Enhance From 2026 if Country Permits Uranium Mining; Shares fall 7%

MT Newswires Live

Dec 23, 2024

Aura Energy (ASX:AEE) said the contribution from its Haggan polymetallic project in Berg, Sweden could increase if the country permits uranium mining, according to a Monday filing with the Australian bourse.

The statement follows the Swedish government's inquiry recommendation on Dec. 20 to regulate uranium as a concession mineral within the Minerals Act, the filing said.

The recommendation marks an important step towards the lifting of the uranium ban, which has been in place since 2018, the filing added.

Aura Energy said its Haggan project could fuel Sweden's existing nuclear reactor fleet for over three centuries.

All parties in the governing coalition support overturning the ban, with a legislative proposal expected by Jan. 1, 2026, the company added.

Shares of the company fell past 7% in recent Monday trade.

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